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The article notes that the U.S. Treasury Department has increased its scrutiny of companies such as Mt. Gox that let consumer buy and sell virtual currencies, and reports that state regulators in Texas and New York are considering licensing requirements for the firms. One virtual-currency company, Liberty Reserve, has been accused by U.S. Federal prosecutors of money-laundering.

The article discusses efforts by banks including J. P. Morgan Chase & Co. to meet heavy demand for cash in areas afflicted by power outages caused by Hurricane Sandy. Chase and other banks set up temporary automated teller machines in certain locations in New York, New Jersey, and Pennsylvania. Some retailers resorted to accepting only cash due to an inability to process credit-card payments.

The article discusses preparations for Hurricane Irene by New York City's financial industry. In advance of the storm banking company J. P. Morgan Chase & Co. extended hours at its bank branches, while rival Citigroup Inc. indicated some of its employees may work from alternative sites on the Monday following the storm.

This article discusses Bank of America Corp.'s (B of A) efforts to claim a significant share of New York City's unusually high concentration of affluent people. B of A CEO, Kenneth D. Lewis, remembers when North Carolina National Bank was barely known by any New Yorkers. Now that the bank has become B of A, it is building branches and constructing a new office tower for its headquarters in New York City. The expansion is risky because it is difficult to persuade consumers to switch banks.

The article reports on a 24% decline in profit posted by American Express Co. (AmEx) in the 3rd quarter of 2008. It says that the net income of the New York card issuer and transaction-processing company has dropped from $1.07 billion to $815 million. The AmEx has announced that it will raise interest rates by 2 or 3 percentage points to certain customers, to shield the firm from an expected increase in charge-off levels, and cut operating costs and staffing levels.

The article reports on the decision of American Express (AmEx) Co. to discontinue a line of credit cards that were aimed at attracting young and affluent customers in New York, in Los Angeles, California, and in Chicago, Illinois starting on November 1, 2008. In addition, AmEx will discontinue three other niche cards aimed at engaged couples, newlyweds and avid golf fans. AmEx spokeswoman Desiree Fish explains that the company did not see enough demand for it to continue to offer them.

The article reports that American Express Co. has signed a deal with IMG that will allow holders of American Express Gold, Platinum, and Centurion credit cards to buy tickets to the New York Fashion Week. IMG is the producer of the fashion week. Fern Mallis, senior vice president of IMG Fashion, said the deal will allow it to hold the price charge to designers to stage the shows. Information on fashion week ticket prices is presented.

Presents an update on Bank of New York Co. Inc. in New York City, as of April 10, 2006, including the finalization of a deal to sell its branch-banking business to J. P. Morgan Chase and Co.

Focuses on the issue in the practice of law firms to represent the buyer and seller in a corporate consolidation transaction which was regarded by the Association of the Bar of the City of New York as significant to the legal community.

This article reports that Charles O. Prince, the chief executive officer of Citigroup Inc. in New York, New York, is battling a decision made by Todd Thomson, the chief of Citigroup's wealth-management unit. Thomson has used more than $5 million from his division's marketing budget to sponsor a television program for the Sundance Channel. The program's hosts are slated to include CNBC anchor Maria Bartiromo and actor Robert Redford.

The article reports on an increase in the number of U.S. financial firms including Lehman Brothers Holdings Inc. and Goldman Sachs Group Inc. on Wall Street who are seeking an expansion of their trading floors despite the presence of a very small office vacancy rate (7%) in Manhattan. A discussion of several properties which the firms are considering including those owned by Related Cos. and Brookfield is presented.

The article reports on the effort of New York state insurance regulators to incite a bailout of bond insurers Ambac Financial Group Inc. and MBIA Inc. Bond insurers are in the midst of the mortgage debt storm because they have guaranteed some of the financial instruments which are not performing well. The possibility of a bailout deal cheered investors with Ambac's shares increasing 72 percent while the shares of MBIA increased 38 percent.

Presents news briefs in the United States as of December 7, 2001 such as the bonuses to be announced by big companies in New York.

Speculates on whether New York City would continue to be the capital of the financial world after the terrorist attacks on the United States on September 11, 2001.